Shares of Lipocine Inc. (NASDAQ:LPCN) traded down 6.1% on Wednesday . The company traded as low as $1.49 and last traded at $1.53. 3,156,313 shares were traded during trading, a decline of 13% from the average session volume of 3,619,027 shares. The stock had previously closed at $1.63.
A number of equities research analysts recently weighed in on the company. ValuEngine cut Lipocine from a “buy” rating to a “hold” rating in a report on Wednesday, November 11th. LADENBURG THALM/SH SH upgraded Lipocine from a “neutral” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Thursday, December 10th. Finally, HC Wainwright reiterated a “buy” rating on shares of Lipocine in a research report on Thursday, December 10th.
The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.27 and a current ratio of 4.27. The firm has a market capitalization of $100.50 million, a P/E ratio of -3.48 and a beta of 0.80. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.48.
In other Lipocine news, CEO Mahesh V. Patel sold 43,500 shares of the business’s stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $1.57, for a total transaction of $68,295.00. Following the transaction, the chief executive officer now owns 1,118,612 shares of the company’s stock, valued at $1,756,220.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Morgan R. Brown sold 17,250 shares of the business’s stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $1.57, for a total value of $27,082.50. Following the transaction, the chief financial officer now directly owns 121,312 shares in the company, valued at approximately $190,459.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,887 shares of company stock worth $136,062. Company insiders own 6.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of Lipocine during the second quarter worth approximately $26,000. GSA Capital Partners LLP boosted its holdings in shares of Lipocine by 32.2% during the third quarter. GSA Capital Partners LLP now owns 79,817 shares of the specialty pharmaceutical company’s stock worth $113,000 after acquiring an additional 19,449 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Lipocine by 122.7% during the third quarter. BlackRock Inc. now owns 1,610,701 shares of the specialty pharmaceutical company’s stock worth $2,271,000 after acquiring an additional 887,601 shares during the period. Institutional investors own 7.58% of the company’s stock.
About Lipocine (NASDAQ:LPCN)
Lipocine Inc, a clinical-stage biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of metabolic and endocrine disorders. Its primary development programs are based on oral delivery solutions for poorly bioavailable drugs. The company has a portfolio of product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism in certain cases, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability.
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